home to stand out from the competition.
2. Research Comparable Sales • Use online tools like Zillow or Realtor.com to find recent sales of similar homes in your area. • Focus on properties with similar size, condition, location, and features. 3. Avoid Using Poor Comparables The following properties should not be used for benchmarking: • Bank-Owned/REO Properties: These homes typically sell 5-10% below market value, even when in good condition. • Short Sales: These transactions often involve unpredictable bank approvals and attract fewer buyers, leading to lower sale prices. • Neglected or "Ugly" Homes: Properties in poor condition often sell for 10-15% less than well-maintained homes, and staged homes can command a 20% premium. 4. Consult Professionals • Hire an Appraiser: For a few hundred dollars, you can obtain an accurate valuation of your home. • Request a Comparative Market Analysis (CMA): s (CMA):As an experienced real estate agent, I can provide a free CMA with detailed information about recent sales and active listings in your area. 5. Do Your Own Homework • Research active listings in your area to gauge competition. • Use online tools to track how long homes in your neighborhood have been on the market. Pricing Strategies for Different Markets
In a Seller's Market
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